Chinese tech giant Baidu beat expectations with their first quarter financial results of 2023. Reported on Tuesday, the search engine company’s revenue was up 10% to RMB 31.14 billion ($4.54 billion) and net income was 5.83 RMB billion. Baidu CEO Robin Li stated their cloud business achieved its first profitability in eight years and saw growth in their advertising business. Li also mentioned the large scale rollout of their ChatGPT-like service ERNIE Bot once they receive the green light from the government review and approval.
Baidu is a Chinese tech company founded by the company’s CEO, Robin Li in the year 2000. After staying afloat for seven years, Baidu went public in 2005 and has become one of the largest Chinese search engine service providers. Robin Li is an influential tech mogul in China who was the first Chinese Internet engineer to be elected to be part of the America Association of Advances Science (AAAS).
Further, Li has pushed Baidu to the forefront of technological advancement by introducing AI technology with ERNIE Bot. This chatbot utilizing natural language processing is set to become integrated into each of Baidu’s business and promises to offer significant opportunities. This new innovation hopes to further advance the success of the company into the future.
